Category: General

Written by seriously good accountants. For business owners who want to understand their numbers, make good decisions & grow.

Image for New amendments and expansion of the SME Recovery Loan Scheme

New amendments and expansion of the SME Recovery Loan Scheme

The SME Recovery Loan Scheme terms have been amended and expanded due to the ongoing economic impact of the COVID-19 pandemic. The 2022 Scheme expansion will now be available from 1 January 2022 until 30 June 2022. This expansion allows SMEs to access loans of up to $5 million with…

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Filed Under: Financial Awareness, General, Growth

Image for How to have a tax-deductible Christmas party

How to have a tax-deductible Christmas party

If you’re looking for an easy way to give your employees a gift this year, consider throwing them a Christmas party! The best part? Your end of year function could be tax-deductible. Here are some tips for throwing a festive and tax-deductible Christmas party without breaking the bank. Venue When…

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Filed Under: Accounting, General, Small Business Tax, Tax

Image for 5 ways to make sure your super goes to the right person when you die

5 ways to make sure your super goes to the right person when you die

Upon someone’s untimely death, their superannuation may be one of the elements of the estate that can be bequeathed and divided between their loved ones. However, this is not done through their will, as super isn’t automatically included unless specific instructions have been given to their super fund. Often these…

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Filed Under: Financial Awareness, General

Image for How having multiple jobs affects your taxes

How having multiple jobs affects your taxes

If you earn income through more than one job, a common misconception is that each employer withholds taxes from your paycheck in the same way. This is not necessarily true; they may use different tax withholding methods which could lead to an underpayment of income taxes with one employer, and…

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Filed Under: Financial Awareness, General, Tax

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Image for Tax implications of rent concessions, property and commercial enterprises

Tax implications of rent concessions, property and commercial enterprises

If you’re a landlord, property owner or commercial enterprise operator who has been affected by the downturn in the economy, you may be wondering how to deal with your tax obligations. There are various schemes available from state and federal governments for landlords and property owners as well as commercial…

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Filed Under: General, Tax

Image for What are Director Identification Numbers and do I need one?

What are Director Identification Numbers and do I need one?

Some of the 31 registers that are currently part of the Australian Securities and Investments Commission will be brought together under a new entity which will be known as the Australian Business Registry Services. As part of these changes, from November 2021 directors will need to apply for a Director…

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Filed Under: Business Advisory, Compliance, General, Leadership

Image for How your organisation can benefit from business collaboration

How your organisation can benefit from business collaboration

Innovation is a pillar of good business practice but it’s not something that should be tackled alone. Some of the best business ideas are unlocked by using effective business collaboration. While most businesses will have an understanding of its internal benefits, and may even have processes in place to promote…

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Filed Under: Business Advisory, Culture, General, Management and Strategy

Image for Supercharge your super with spousal contributions

Supercharge your super with spousal contributions

Whether you’re married or in a de facto relationship there are many benefits to having a partner, including tax write-offs. You might share things with your partner like a mortgage or a car, but did you know you also might be able to help them boost their super? If you…

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Filed Under: General, Tax

Image for How stapled super funds will impact employers

How stapled super funds will impact employers

From 1 November 2021, if you have new employees who don’t choose a specific super fund, you may need to request their ‘stapled super fund’ details from the Australian Taxation Office. We’ll explore what a stapled super fund is and how it will impact you as an employer. Existing superannuation…

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Filed Under: Compliance, Financial Awareness, General, People

Image for 5 small business strategies for kick-starting the financial year

5 small business strategies for kick-starting the financial year

How often do you give your business finances a tidy-up? As another end-of-financial year nears, now is as good a time as any to undertake a bit of housekeeping. The stresses of running a small business often see us rushing, unprepared, towards June 30th. It’s that time when we draw…

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Filed Under: Business Advisory, General